LIMIT/STOP Order instad of SL/TP - MultiCharts | futures io social day trading
futures io futures trading


LIMIT/STOP Order instad of SL/TP
Updated: Views / Replies:971 / 3
Created: by no erocla Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

LIMIT/STOP Order instad of SL/TP

  #1 (permalink)
Trading for Fun
turin italy
 
Futures Experience: Advanced
Platform: metatrader multichart
Favorite Futures: futures
 
Posts: 96 since May 2013
Thanks: 43 given, 4 received

LIMIT/STOP Order instad of SL/TP

Hi guys, my question is very simple:

there s a way to set stoploss and profittarget using STOP and LIMIT order ?

for example i would like to do something like this:


if ( marketposition = 0 and condition4 and condition5) then BEGIN

buy ("Long EURUSD") 100000 contracts next bar at open;
sell ("sell SL 1 ") 100000 contracts next bar at C-stoploss1 stop;
sell ("sell TP 1 ") 50000 contracts next bar at C+takeprofit1 limit;
sell ("sell TP 2 ") 50000 contracts next bar at C+takeprofit2 limit;
END;

Using 1 stoploss and 2 takeprofit.

Thank you very much about all answer

No Erocla

Reply With Quote
 
  #2 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,524 since Apr 2013
Thanks: 229 given, 852 received
Forum Reputation: Legendary

Yes, you can do this. However with your MC would close out the whole position at your target and ignore the contracts.
You just need to slightly modify your code this this and it should work fine:
 
Code
if ( marketposition = 0 and condition4 and condition5) then BEGIN

buy ("Long EURUSD1") 50000 contracts next bar at open;
buy ("Long EURUSD2") 50000 contracts next bar at open;
end;
if MarketPosition > 0 then
begin
sell ("sell SL 1 ") all contracts next bar at C-stoploss1 stop;

sell ("sell TP 1 ") 50000 contracts from Entry ("Long EURUSD1") next bar at C+takeprofit1 limit;
sell ("sell TP 2 ") 50000 contracts from Entry ("Long EURUSD1") next bar at C+takeprofit2 limit;
END;
You might have to change some settings to allow more than trade per bar or in the same direction if you only see one entry. Another thing to consider is using intrabar order generation so your stops and targets are available directly after the entry.

Regards,
ABCTG

Reply With Quote
The following user says Thank You to ABCTG for this post:
 
  #3 (permalink)
Trading for Fun
turin italy
 
Futures Experience: Advanced
Platform: metatrader multichart
Favorite Futures: futures
 
Posts: 96 since May 2013
Thanks: 43 given, 4 received



ABCTG View Post
Yes, you can do this. However with your MC would close out the whole position at your target and ignore the contracts.
You just need to slightly modify your code this this and it should work fine:
 
Code
if ( marketposition = 0 and condition4 and condition5) then BEGIN

buy ("Long EURUSD1") 50000 contracts next bar at open;
buy ("Long EURUSD2") 50000 contracts next bar at open;
end;
if MarketPosition > 0 then
begin
sell ("sell SL 1 ") all contracts next bar at C-stoploss1 stop;

sell ("sell TP 1 ") 50000 contracts from Entry ("Long EURUSD1") next bar at C+takeprofit1 limit;
sell ("sell TP 2 ") 50000 contracts from Entry ("Long EURUSD1") next bar at C+takeprofit2 limit;
END;
You might have to change some settings to allow more than trade per bar or in the same direction if you only see one entry. Another thing to consider is using intrabar order generation so your stops and targets are available directly after the entry.

Regards,
ABCTG

Thank you very much,

what happen using IOG ? i never used it before.

Close is Tick or still remain close ?
My systems works on close price, i've to "ref" them to 1 bar ago ? (Close[1] , atr(14)[1] etc..).

Thank you again !

No Erocla.

Reply With Quote
 
  #4 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation, Multicharts.NET, NinjaTrader, MetaTrader
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,524 since Apr 2013
Thanks: 229 given, 852 received
Forum Reputation: Legendary

You are welcome. IOG is a more complex task when dealing with signals. For example orders that are specified at "next bar" become available at the next tick. So when you specify
 
Code
Buy next bar Close limit;
This would mean send a limit order for the next tick using the value for close of the current tick.

If you haven't used it before there probably is no reason for that with your signal then.

Regards,

ABCTG


no erocla View Post
Thank you very much,

what happen using IOG ? i never used it before.

Close is Tick or still remain close ?
My systems works on close price, i've to "ref" them to 1 bar ago ? (Close[1] , atr(14)[1] etc..).

Thank you again !

No Erocla.


Reply With Quote
The following user says Thank You to ABCTG for this post:

Reply



futures io > > > > LIMIT/STOP Order instad of SL/TP

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Simple Limit Order with SL/TP/Cancel prosonic NinjaTrader Programming 3 August 14th, 2013 09:36 PM
ATM Strategy: Limit order & stop loss order at the same time in the market? DrE6 NinjaTrader 2 June 21st, 2013 02:12 PM
stop/limit order question stefan416 NinjaTrader 5 August 14th, 2012 04:08 PM
Stop Limit Order Big Mike Terms (Glossary) 0 July 2nd, 2010 12:37 PM
Stop Limit Order with InteractiveBrokers tom1 NinjaTrader 2 June 20th, 2010 11:29 AM


All times are GMT -4. The time now is 10:27 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-10 in 0.09 seconds with 19 queries on phoenix via your IP 54.221.73.186